Brussels, 27/11/2000 (Agence Europe) - After having reached the compromise on savings taxation (see above page), the Ecofin Council:
- adopted a Declaration concerning the macro-economic and financial stability of the applicant countries (EUROPE will come back to this in greater detail);
- gave Opinions relating to the updated stability programmes for Germany, Finland and the Netherlands. These opinions are positive and Mr Solbes considers the budgetary situation in Finland and the Netherlands is extraordinarily favourable, while the German programme is only of concern in that taxation reform will first of all bring about a less positive budgetary situation;
- welcomed, in its Conclusions, the quality of the progress report by the Group of Wise Men on regulation of the financial markets and financial information (see following article);
- heard President Karlsson present the annual report from the Court of Auditors;
- agreed, during lunch, that a proposal would be made to the European Council of Nice for extension of qualified-majority decision-making for four articles linked to EMU (100.1, 100.2, 111.4, 123.4). On the other hand, it did not come to a comparable position concerning taxation (Mr Fabius pointed out that the United Kingdom and Ireland were "totally hostile" to this).
